8/23/2016 12:00:00 PM
Minnesota employers added 11,300 jobs in July – seasonally adjusted figures – and the overall unemployment rate rose 0.1 percent in July to 3.9 percent. Compare this with the U.S. unemployment rate of 4.9 percent in July.
Over the year, Minnesota has added 44,034 jobs, a 1.5 percent gain. For more on the July numbers, go to the complete DEED press release.
Sector-leading leisure and hospitality generated 3,400 new jobs in July; and construction was up 600. Both sectors (along with education and health care) have over 4% annual growth rates – and are besting their national counterparts.
Manufacturing was the only industry that lost jobs, down a slight 200.
One mixed leading indicator: Layoffs (as measured by seasonally adjusted claims for unemployment benefits) increased by 1,083 between June and July. That breaks a four-month streak of levels below 18,000 claims for UI benefits.
We reported on this observation last month: There is continued improvement in the employment situation of Minnesota’s black population.
The black unemployment rate has fallen to 8.7%, down from 13.6% at the beginning of 2016 and 9.7% in June. This is an all-time low, dating to 2001.
Similarly, the share of the working-age black population that is employed increased from 56.7% in January to 61.9% in July; the comparable rate for whites has dropped a percentage point to 67.9%.
This remains a significant disparity, but the gap is narrowing. Improving employment conditions of Minnesota’s minority populations may be due to the state’s tight labor market.
Even in summer, there are lots of job fairs, and Minnesota employers are offering some unusual incentives to land new hires.
economy
unemployment
